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TransCanada Closes $600 Million Preferred Share Issue

TransCanada Closes $600 Million Preferred Share Issue 
CALGARY, ALBERTA -- (Marketwire) -- 03/04/13 -- TransCanada
Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that
it has completed its public offering of cumulative redeemable first
preferred shares, series 7 (the "Series 7 Preferred Shares").
TransCanada issued 24 million Series 7 Preferred Shares for aggregate
gross proceeds of $600 million through a syndicate of underwriters
co-led by Scotiabank, BMO Capital Markets and RBC Capital Markets. 
The net proceeds of the offering will be used for general corporate
purposes and to reduce short term indebtedness of TransCanada and its
affiliates, which short term indebtedness was used to fund
TransCanada's capital program and for general corporate purposes. 
The Series 7 Preferred Shares will begin trading today on the TSX
under the symbol TRP.PR.D. 
This news release does not constitute an offer to sell or a
solicitation of any offer to buy the preferred shares in any
jurisdiction. The preferred shares offered have not been and will not
be registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from registration
requirements. 
ABOUT TRANSCANADA  
With more than 60 years' experience, TransCanada is a leader in the
responsible development and reliable operation of North American
energy infrastructure including natural gas and oil pipelines, power
generation and gas storage facilities. TransCanada operates a network
of natural gas pipelines that extends more than 68,500 kilometres
(42,500 miles), tapping into virtually all major gas supply basins in
North America. TransCanada is one of the continent's largest
providers of gas storage and related services with more than 400
billion cubic feet of storage capacity. A growing independent power
producer, TransCanada owns or has interests in over 11,800 megawatts
of power generation in Canada and the United States. TransCanada is
developing one of North America's largest oil delivery systems.
TransCanada's common shares trade on the Toronto and New York stock
exchanges under the symbol TRP. For more information visit:
www.transcanada.com or check us out on Twitter @TransCanada or
http://blog.transcanada.com. 
FORWARD LOOKING INFORMATION  
This publication contains certain information that is forward-looking
and is subject to important risks and uncertainties (such statements
are usually accompanied by words such as "anticipate", "expect",
"would", "will" or other similar words). Forward-looking statements
in this document are intended to provide TransCanada security holders
and potential investors with information regarding TransCanada and
its subsidiaries, including management's assessment of TransCanada's
and its subsidiaries' future financial and operation plans and
outlook. All forward-looking statements reflect TransCanada's beliefs
and assumptions based on information available at the time the
statements were made. Readers are cautioned not to place undue
reliance on this forward-looking information. TransCanada undertakes
no obligation to update or revise any forward-looking information
except as required by law. For additional information on the
assumptions made, and the risks and uncertainties which could cause
actual results to differ from the anticipated results, refer to
TransCanada's Management's Discussion and Analysis filed February 13,
2013 under TransCanada's profile on SEDAR at http://www.sedar.com/
and other reports filed by TransCanada with Canadian securities
regulators and with the U.S. Securities and Exchange Commission.
Contacts:
TransCanada
Media Enquiries:
Shawn Howard/Grady Semmens
403.920.7859 or 800.608.7859 
TransCanada
Investor & Analyst Enquiries:
David Moneta/Lee Evans
403.920.7911 or 800.361.6522
www.transcanada.com